Chamlee Industries Inc. manufactures recreational vehicles. Chamlee Industries uses a job order cost system. The time tickets from May jobs are sumr Job 5-100 $10,240 Job 5-101 6,240 Job 5-102 7,680 Job 5-103 4,640 Factory supervision 2,800 Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $30 per direct labor hour. The direct labor rate is $35 per hour. a. Determine the total factory labor costs transferred to Work in Process and Factory Overhead for May. If required, round your answers to nearest dollar Factory labor costs transferred to Work in Process Factory labor costs transferred to Factory Overhead b. Determine the amount of factory overhead applied to production for May. If required, round interim calculation and your final answer to nearest dollar. c. Illustrate the effects of the factory overhead applied in (b) on the accounts and financial statements. If no account or activity is affected, select "No effect" from the drop-down list and leave the corresponding number entry box blank. Enter account decrease

Chamlee Industries Inc. manufactures recreational vehicles. Chamlee Industries uses a job order cost system. The time tickets from May jobs are sumr Job 5-100 $10,240 Job 5-101 6,240 Job 5-102 7,680 Job 5-103 4,640 Factory supervision 2,800 Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $30 per direct labor hour. The direct labor rate is $35 per hour. a. Determine the total factory labor costs transferred to Work in Process and Factory Overhead for May. If required, round your answers to nearest dollar Factory labor costs transferred to Work in Process Factory labor costs transferred to Factory Overhead b. Determine the amount of factory overhead applied to production for May. If required, round interim calculation and your final answer to nearest dollar. c. Illustrate the effects of the factory overhead applied in (b) on the accounts and financial statements. If no account or activity is affected, select "No effect" from the drop-down list and leave the corresponding number entry box blank. Enter account decrease

Name: еBookRecording Direct Labor and Factory OverheadChamlee Industries In
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Description: еBookRecording Direct Labor and Factory OverheadChamlee Industries Inc. manufactures recreational vehicles. Chamlee Industries uses a job order cost system. The time tickets from May jobs are summarized below.Job 5-100$10,240Job 5-1016,240Job 5-1027

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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